UNDERSTANDING ODDS

The chances listed from the race program would be the”morning ” chances. These are the odds placed on the horses from the track’s handicapper once the race program is printed, until the wagering starts. At the track, the odds will be posted on the tote board before the race; they change up until post time, depending on how customers are betting on each horse in the race.
The horse that clients have wager the most money on is called the”favorite”. This horse will have the smallest odds.
The”longshots” have the least amount of money wagered on these and therefore have the highest odds. The racetrack manages the money, keeps a percentage (known as a”take-out”) and calculates the horses’ chances dependent on the quantity of money wagered on each horse. The rest of the money is then paid back to the players who have winning tickets.
Win odds on the tote board have been displayed based on $1.00 unless otherwise noted. A”3″ exhibited next to a horse’s number indicates that the horse is 3-1. An instance of an exception to this general rule is when”5/2″ has been shown. The tote board doesn’t show decimals, therefore, 5/2 chances means that the odds on a horse are divided by 2, or 2.5-1. Win payoffs are calculated based on a $2.00 bet because at most monitors this is the minimum bet. Example #1: A horse which wins at 5-1 will return $5.00 for each $1.00 wagered. If you had placed the minimum bet of $2 on that horse to win, your payoff will be$10 (5 x 1 x $2) + your initial bet of $ two — for a total of $12.
Hint #2: A horse which wins 9-2 will return $4.50 for every $1.00 wagered. If you had placed the minimum bet of $2 on that horse to win, your payoff will be$9.00 (4.50 x 1 x $2) + your original wager of $ two — for a total of $11.
Normally, payoffs are as follows, according to a $2 bet:

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